Use the following tables to answer the questions posted

SUPERIOR COMPANY Schedule of Cost of Goods Sold Finished goods inventory, beginning Add: Cost of goods manufactured Cost of goods available for sale Less: Finished goods inventory, ending Unadjusted cost of goods sold Add: Underapplied overhead Adjusted cost of goods sold $ 37,000 713,000 750,000 90,000 660,000 24,000 $684,000 c. Prepare an income statement for the year. SUPEROIR COMPANY Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses $1,097,000 684,000 413,000 $ 220,000 159,000 F 379,000 $34,000 Net operating income